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Vacation packages purchased for an auction

January 15, 2024
January 15, 2024

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Q. We purchased several vacation packages from a company who specializes in this, to be used in a silent auction. Some of the packages were just for lodging and some included other items as well. Are these potentially reportable? As rent (especially if just lodging)? Or a service? Or should they be considered as an item/supply? A.  (Answered by IOFM's third-party tax experts) We haven't seen this addressed in IRS instructions, but suggest your company consider whether what you've described is a…

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